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Japan: Yazaki settles car parts price-fixing suit for $76M

 |  September 23, 2014

Japan-based car parts manufacturer Yazaki has reportedly agreed to a $76 million settlement to end litigation against the company for alleged price-fixing.

Reports say the settlement is the largest since multidistrict litigation began against companies found to have manipulated car parts prices in what is now the US Department of Justice’s largest-ever price-fixing case.

Those lawsuits were consolidated in Michigan in 2012. Earlier settlements fetched $4.5 million from Nippon Seiki, $3.4 million from Lear Corp and $19 million from Autoliv, according to reports.

Experts say Yazaki’s settlement is so large due to the high number of parts affected by the collusion that were manufactured by the company.

Further, reports say TRW Automotive Holdings has offered a $5.4 million settlement for similar claims. The company has agreed to be acquired by Germany-based ZF Friedrichshafen.

Full content: Reuters

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